Terms Used In Illinois Compiled Statutes > 5 ILCS 620 - Civil Administrative Code of Illinois. (State Fair Grounds Title Law)

• Appraisal: A determination of property value.
• Assignment agreement: means an agreement between a transferring unit and an issuing entity for the conveyance of all or part of any revenues or taxes received by the transferring unit from a State entity. See Illinois Compiled Statutes 65 ILCS 5/8-13-5
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Conveyance: means an assignment, sale, transfer, or other conveyance. See Illinois Compiled Statutes 65 ILCS 5/8-13-5
• Department: means the Department of Children and Family Services. See Illinois Compiled Statutes 20 ILCS 510/510-5
• Deposit account: means a designated escrow account established by an issuing entity at a trust company or bank having trust powers for the deposit of transferred receipts under an assignment agreement. See Illinois Compiled Statutes 65 ILCS 5/8-13-5
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Issuing entity: means (i) a corporation, trust or other entity that has been established for the limited purpose of issuing obligations for the benefit of a transferring unit, or (ii) a bank or trust company in its capacity as trustee for obligations issued by such bank or trust company for the benefit of a transferring unit. See Illinois Compiled Statutes 65 ILCS 5/8-13-5
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• property: means anything of value. See Illinois Compiled Statutes 720 ILCS 5/15-1
• Quorum: The number of legislators that must be present to do business.
• State entity: means the State Comptroller, the State Treasurer, or the Illinois Department of Revenue. See Illinois Compiled Statutes 65 ILCS 5/8-13-5
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• threat: means a menace, however communicated, to:
       (a) Inflict physical harm on the person threatened or any other person or on property; or
       (b) Subject any person to physical confinement or restraint; or
       (c) Commit any criminal offense; or
       (d) Accuse any person of a criminal offense; or
       (e) Expose any person to hatred, contempt or ridicule; or
       (f) Harm the credit or business repute of any person; or
       (g) Reveal any information sought to be concealed by the person threatened; or
       (h) Take action as an official against anyone or anything, or withhold official action, or cause such action or withholding; or
       (i) Bring about or continue a strike, boycott or other similar collective action if the property is not demanded or received for the benefit of the group which he purports to represent; or
       (j) Testify or provide information or withhold testimony or information with respect to another's legal claim or defense; or
       (k) Inflict any other harm which would not benefit the offender. See Illinois Compiled Statutes 720 ILCS 5/15-5
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transferring unit: means a home rule municipality located in the State. See Illinois Compiled Statutes 65 ILCS 5/8-13-5
• Trustee: A person or institution holding and administering property in trust.
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.